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Benchmark indices on Wall Street posted yet another positive trading session on Tuesday, June 2, shrugging off uncertainties related to the Iran war and a stabilization in crude oil prices above the mark of $95 a barrel.
The Dow Jones overturned losses of nearly 200 points in the initial minutes of trade to end with gains of 230 points and above the mark of 51,000. The S&P 500 ended above the mark of 7,600 for the first time, marking its ninth straight day of gains. This is the longest winning run for the benchmark index since 1995. The Nasdaq saw a rangebound trading session but managed a close above the flat line.
Alphabet was the only sore spot in an otherwise positive session on Wall Street, as its $80 billion fund raising plans sent the stock tumbling by 3.5%, keeping the S&P 500 and Nasdaq gains in check.
US President Donald Trump remained optimistic that an MoU with Iran to end the war and reopen the Strait of Hormuz could be signed by next week. He told ABC News that the talks with Iran are continuing at a "rapid pace."
In a separate Truth Social post, he also called the suspension of talks between the two parties as "fake news," adding that this way or that, Iran has to make a deal.
Separately, officials in Tehran are discussing the "final text" to send to the US, according to the Mehr News agency, who also cited officials of being wary of the US breaking commitments.
According to the Bureau of Labor Statistics data released on Tuesday, the number of job openings in April rose to the highest in nearly two years and layoffs declined as well.
Available positions rose to 7.62 million, compared to 6.89 million in March and higher than the 6.87 million estimate. One sector, professional and business services accounted for nearly all of the increase.
Shares of Marvell Technology jumped as much as 32%, the most since 2000, after Nvidia CEO Jensen Huang said that the company could become the next trillion dollar enterprise on Wall Street.
On the flip side, Bitcoin continued its plunge, falling below $70,000, and consequently hurting the prospects of Bitcoin proxy Strategy Inc., whose shares fell another 9% on Tuesday.
The Dow Jones overturned losses of nearly 200 points in the initial minutes of trade to end with gains of 230 points and above the mark of 51,000. The S&P 500 ended above the mark of 7,600 for the first time, marking its ninth straight day of gains. This is the longest winning run for the benchmark index since 1995. The Nasdaq saw a rangebound trading session but managed a close above the flat line.
Alphabet was the only sore spot in an otherwise positive session on Wall Street, as its $80 billion fund raising plans sent the stock tumbling by 3.5%, keeping the S&P 500 and Nasdaq gains in check.
Trump Remains Optimistic
US President Donald Trump remained optimistic that an MoU with Iran to end the war and reopen the Strait of Hormuz could be signed by next week. He told ABC News that the talks with Iran are continuing at a "rapid pace."
In a separate Truth Social post, he also called the suspension of talks between the two parties as "fake news," adding that this way or that, Iran has to make a deal.
Separately, officials in Tehran are discussing the "final text" to send to the US, according to the Mehr News agency, who also cited officials of being wary of the US breaking commitments.
Job Openings Resilient
According to the Bureau of Labor Statistics data released on Tuesday, the number of job openings in April rose to the highest in nearly two years and layoffs declined as well.
Available positions rose to 7.62 million, compared to 6.89 million in March and higher than the 6.87 million estimate. One sector, professional and business services accounted for nearly all of the increase.
Beyond The War
Shares of Marvell Technology jumped as much as 32%, the most since 2000, after Nvidia CEO Jensen Huang said that the company could become the next trillion dollar enterprise on Wall Street.
On the flip side, Bitcoin continued its plunge, falling below $70,000, and consequently hurting the prospects of Bitcoin proxy Strategy Inc., whose shares fell another 9% on Tuesday.
